PUNE, India, July 27, 2018 /PRNewswire/ --
According to the new market research report on "Metallized Film Market by Material Type (PP and PET), Metal (Aluminum), End-use Industry (Packaging, Decorative), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to grow from USD 2.20 billion in 2018 to USD 2.82 billion by 2023, at a CAGR of 5.09% from 2018 to 2023. The market is driven by the extensive use of metallized film in end-use industries such as packaging and decorative. The major factor driving the Metallized Film Market is the high demand for lightweight, consumer-friendly, and easy to handle products. Growing focus on sustainability, increased need for extended shelf life, rising standards of hygiene, and consumer focus on ease of use are the key drivers for the Metallized Film Market, globally.
Browse 70 market data Tables and 32 Figures spread through 112 Pages and in-depth TOC on "Metallized Film Market"
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Packaging: Largest end-use industry of Metallized Film Market
Metallized film is used in various end-use industries, such as packaging and decorative. Increasing demand for flexible packaging offers opportunities for the Metallized Film Market in the food & beverage packaging industry. Owing to busy and hectic lifestyles, consumers opt for convenient mealtime solutions. This puts ready-to-eat meals in flexible packaging formats in a good position to take advantage of the current social and economic trend. Flexible packaging is the most cost-effective method to package, preserve, and distribute food, beverages, pharmaceuticals, and other products that need extended shelf life. These factors are expected to drive the demand for metallized film in the packaging industry.
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Polypropylene (PP) Metallized Film: Largest segment of Metallized Film Market, by material type
Metallized films produced from PP are used to pack cheese, bakery products, snack foods, and candies, among others. Metallized film made from this material is a good moisture barrier but poor oxygen barrier. This film is metallized to improve its barrier properties and to increase the shelf life of packed products. Owing to its resistance to chemicals and low odor, this film is suitable for use in applications regulated under the FDA regulations. The use of PP metallized film in packaging application for products which requires a long shelf life, such as food, bakery products, snacks, and candies, is driving the growth of this market. These factors are driving the PP Metallized Film Market.
Aluminum Metallized Film: Largest segment of Metallized Film Market, by metal type
Aluminum is the most commonly used metal in metallized film manufacturing, primarily due to its cost-effectiveness. Aluminum is a lightweight, silvery-white metal derived from bauxite ore, where it exists in combination with oxygen as alumina. Aluminum is highly resistant to most forms of corrosion and its natural coating of aluminum oxide provides a highly effective barrier against air, temperature, moisture, and chemical attacks. Aluminum metallized film offers excellent barrier performance against water vapor & gases, good metal bond strength, glossy appearance, good lamination bond strength, and good thermal & mechanical properties. Aluminum metallized film is used in packaging for snacks, frozen food, sweets and pastries, frozen desserts, coffee, etc. These factors are driving the aluminum Metallized Film Market.
High demand from Europe: Major driver for Metallized Film Market
Europe is expected to be the largest Metallized Film Market in 2018. The major factors behind Europe's high market share are the high demand for lightweight, consumer-friendly, and easy to handle products. Pouches have become an important form of packaging across Europe owing to their ease of use and functionality. Stand-up pouches allow printing of high-quality, glossy graphics on the package, which makes them attractive and appealing to customers. The growing focus on sustainability, increased need for extended shelf life, rising standards of hygiene, and consumer focus on ease of use are the key drivers for the Metallized Film Market in the region.
Key players profiled in the Metallized Film Market report include Cosmo Films Ltd. (India), Jindal Poly Films Ltd. (India), Polinas (Turkey), and Toray Industries Inc. (Japan).
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